Yeah. It was taking a company that is only barely financially solvent because it was grown very conservatively and had no debt, and flooding that company with debt. I mean it’s not Nobel prize economics stuff here.
Who keeps giving these VC guys money? Unless the goal is specifically to close the company the business plan made no sense.
They’re just vampires.
Vampires is great way to describe them. Out of the debt they use to buy the company, they pay themselves huge “management fees”. So they are taking on crazy debt to buy a company, paying themselves millions, and leaving the bank a rotten corpse to clean up.
I really don’t understand who keeps giving these people money?
Unscrupulous people who don’t mind making money off of the suffering of others.